“Samuelson's textbook has delivered a great deal of economic wisdom. For many economists, the positive side of the balance sheet has outweighed the negative. Indeed, his defenders might ask: Might the United States and the West have suffered another Great Depression if Samuelson had not emphasized the need for "automatic stabilizers"? Did not Samuelson's heralding of the "mixed" economy curb the appetite of third world countries for national socialism?
We will never know, of course, but it is humbling to speculate on whether alterations in principles textbooks might have led to a different U. S. economy.”

— Mark Skousen

Mark Skousen, "The Perseverance of Paul Samuelson's Economics", The Journal of Economic Perspectives, Vol. 11, No. 2 (Spring, 1997)

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Mark Skousen3

American economist, investment analyst, newsletter editor, … 1947

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter One, Nature of Political Economy, p. 22

“For many citizens of the Western world, this situation proved, as you might imagine, troubling—especially in the United States, where reality has never enjoyed a great deal of prestige.”

James K. Morrow (1947) (1947-) science fiction author

Source: Blameless in Abaddon (1996), Chapter 6 (p. 129; spoken by the Devil)

“From Adam Smith through John Maynard Keynes, economics had been mostly talk. At Harvard economics was talk. At MIT, Samuelson made it math.”

William Poundstone (1955) American writer

Part Three, Arbitrage, Paul Samuelson, p. 117
Fortune's Formula (2005)

“John Maynard Keynes may have had more influence on policy makers, Milton Friedman on citizens, Kenneth Arrow on economic theory, but Samuelson had more influence on the way economics is done today, and the purposes to which it is put, than any other economist of the twentieth century.”

David Warsh (1944) American journalist

David Warsh, "The Enormous Black Box" http://www.economicprincipals.com/issues/2009.12.13/841.html (2009)

“There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists… Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.”

Joseph E. Stiglitz (1943) American economist and professor, born 1943.

Autobiographical Essay (2001)

“One recent history of economic thought (Jürg Niehans’s A History of Economic Theory) devotes twenty-four pages to Samuelson’s ideas. Adam Smith only gets thirteen. Samuelson’s work on stock markets and the random walk takes up less than two of those twenty-four pages. He was “the last generalist in economics,” as he liked to say, and for him financial market studies were just a side project that he at times seemed deeply ambivalent about. His intervention was, however, crucial to the triumph of the random walk. Here was one of the most important economists of all time, and he didn’t think the relationship between coin flips and the stock market was a dinner-speech triviality.”

Justin Fox (1964) American journalist

Justin Fox, Myth of Rational Market (2009), Ch. 4 : A Random Walk from Paul Samuelson to Paul Samuelson

“There are a number of imperfections in the new South Africa where I would have hoped that things would be better, but on balance I think we have basically achieved what we set out to achieve. And if I were to draw balance sheets on where South Africa stands now, I would say that the positive outweighs the negative by far. There is a tendency by commentators across the world to focus on the few negatives which are quite negative, like how are we handling AIDS, like our role vis-à-vis Zimbabwe. But the positives – the stability in South Africa, the adherence to well-balanced economic policies, fighting inflation, doing all the right things in order to lay the basis and the foundation for sustained economic growth – are in place.”

F. W. de Klerk (1936) South African politician

Interview with Richard Stengel https://web.archive.org/web/20110622073025/http://www.cfr.org/southern-africa/hbo-history-makers-series-frederik-willem-de-klerk/p7114?breadcrumb=%2Fregion%2F151%2Fsouthern_africa (8 June 2004) <br class="br">2000s, 2004

“Once, at a get together, I called him my guru and explained the gurukul system of our rishis. He said: "Ah! That is what the US needs." Samuelson was a rishi in the way he treated his chosen students and saw them through difficulties. He was a great and gentle guru.”

Subramanian Swamy (1939) Indian politician

Source: On Paul Samuelson, as quoted in "Subramanian Swamy: Samuelson - A genius who was my guru" http://www.business-standard.com/article/opinion/subramanian-swamy-samuelson-a-genius-who-was-my-guru-109122200056_1.html, Business Standard (22 December 2009)

“The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone wants to have an opinion. Yet the kind of economics covered in the textbooks is a technical subject that many people find hard to follow. How reassuring, then, to be told that it is all irrelevant -- that all you really need to know are a few simple ideas! Quite a few supply-siders have created for themselves a wonderful alternative intellectual history in which John Maynard Keynes was a fraud, Paul Samuelson and even Milton Friedman are fools, and the true line of deep economic thought runs from Adam Smith through obscure turn-of-the-century Austrians straight to them.”

Paul Krugman (1953) American economist

"Virus Strikes Again", Originally "Supply-Side Virus Strikes Again: Why there is no cure for this virulent infection" http://web.mit.edu/krugman/www/virus.html, undated draft at web.mit.edu of a "The Dismal Science" column for Slate <br class="br">The Accidental Theorist: And Other Dispatches From The Dismal Science (1998)

“The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics. Indeed, it is only in the last third of the century, within my own lifetime as a scholar, that economic theory has had many pretensions to being itself useful to the practical businessman or bureaucrat. I seem to recall that a great economist of the last generation, A. C. Pigou of Cambridge University, once asked the rhetorical question, “Who would ever think of employing an economist to run a brewery?” Well, today, under the guise of operational research and managerial economics, the fanciest of our economic tools are being utilized in enterprises both public and private.”

Paul A. Samuelson (1915–2009) American economist

Source: 1950s–1970s, Maximum Principles in Analytical Economics, 1970, p. 62: Lead paragraph

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